SRRV retirement visa: apply and keep it

Estimated budget

Not applicable

Processing time

Not applicable

• The principal applicant must be at least 40.
• A spouse has no age requirement but can only join as a dependent of an eligible principal.
• If your spouse is 40 or older, they can be the principal and you the dependent.

Myth: The SRRV is only for people over 50. Reality: Since the 2025 revision, the minimum age is 40, with higher deposits between 40 and 49.

Estimated budget

Deposit US$25,000 (age 40–49) or US$15,000 (50+). Fees: US$1,500 processing + US$300 per dependent + US$360 annual fee.

Processing time

PRA: 10 working days for its part; 30 to 45 working days in total after a complete file (BI processing not included)

• Lifetime pension of at least US$800/month (single) or US$1,000/month (with dependents), with proof.
• The deposit covers the principal and two dependents; each extra dependent adds US$15,000.
• The deposit must arrive as an inward remittance from abroad to a PRA-accredited bank.

Myth: The deposit is a fee you lose. Reality: It remains your money in a time deposit; it is returned when the SRRV is cancelled, subject to bank rules.

Estimated budget

Deposit US$50,000 (age 40–49) or US$30,000 (50+). Fees: US$1,500 processing + US$300 per dependent + US$360 annual fee.

Processing time

PRA: 10 working days for its part; 30 to 45 working days in total after a complete file (BI processing not included)

• Without a qualifying pension, the deposit is twice the pensioner's amount.
• The deposit covers the principal and two dependents; each extra dependent adds US$15,000.
• The deposit must arrive as an inward remittance from abroad to a PRA-accredited bank.

Myth: The SRRV Smile with a US$20,000 deposit is the cheap option. Reality: Smile is no longer offered since the 2025 revision.

Estimated budget

Former Filipino: deposit US$3,000 (age 40–49) or US$1,500 (50+). Retired diplomat, military or international official: US$6,000 without pension or US$3,000 with pension (40–49), US$1,500 (50+). Fees: US$1,500 processing + US$300 per dependent; annual fee US$100 (foreign nationals) or US$50 (former Filipinos).

Processing time

PRA: 10 working days for its part; 30 to 45 working days in total after a complete file (BI processing not included)

• Former Filipinos must be naturalized abroad and must not have reacquired Philippine citizenship.
• Foreign nationals must prove their status: retired diplomat, international organization officer, retired military from a country with bilateral relations.
• Between 40 and 49, foreign nationals on this track must also show a pension of at least US$1,000/month.

Myth: Any retiree can take the Courtesy track. Reality: It is reserved for former Filipinos and specific categories of retired officials.

Estimated budget

Property worth at least US$50,000 in peso equivalent; PRA inspection; release of the deposit in pesos

Processing time

Possible from 30 days after the SRRV is issued; PRA ocular inspection before release

• Conversion is possible only 30 days after the SRRV is issued.
• Condominium: titled in the principal retiree's name with a PRA annotation, worth at least US$50,000.
• Long-term lease: at least 25 years renewable, contract worth at least US$50,000. Smile and Human Touch deposits cannot be converted.

Myth: I can withdraw my deposit and still keep the SRRV. Reality: Only a conversion into an approved property keeps the SRRV; a simple withdrawal means cancellation.

Estimated budget

Classic: US$360 per year (principal + 2 dependents, US$100 per extra dependent). Courtesy: US$100 (foreign nationals) or US$50 (former Filipinos). Replacement ID: US$10.

Processing time

At the PRA, same day in most cases

• The annual PRA fee is due every year as long as you hold the SRRV.
• The PRA ID card is valid for 2 years and must be renewed.
• SRRV holders are exempt from the BI exit clearance, re-entry permit and annual report, according to the PRA and consulates.

Myth: SRRV holders need an ECC every time they leave. Reality: The PRA and consulates list exemption from the exit clearance and re-entry permit among SRRV privileges.

Estimated budget

BI cancellation fee ₱500 per member + PRA service fees (₱3,520 and US$10 per member, as listed on the PRA form) + any arrears

Processing time

Several weeks; release of the deposit depends on the bank

• All arrears (annual fees) are deducted or must be paid.
• If you used the tax-free import and cancel within 3 years, you must prove payment of duties or re-export of the goods.
• Downgrading to tourist requires an ECC for each member before departure; cancellation without downgrading requires proof of departure (flight ticket).

Myth: The deposit is lost if you cancel. Reality: It is returned after cancellation, minus arrears and subject to the bank's rules.

Estimated budget

PRA and BI fees per member (as for a cancellation) + estate tax formalities

Processing time

Several months, depending on estate settlement

• The surviving spouse can take over the SRRV by subrogation, with the deposit moved to their sole account.
• Otherwise, heirs claim the deposit with proof of the estate settlement.
• Release depends on the bank's rules and on succession law.

Myth: The spouse automatically loses the visa. Reality: Subrogation lets the surviving spouse keep the SRRV.

Estimated budget

Usual annual PRA fee; no new deposit required

Processing time

Not applicable

• These options are no longer offered to new applicants, but existing visas were not cancelled.
• Smile and Human Touch deposits cannot be converted into property.
• Annual fees and the PRA ID remain due.

Myth: With the 2025 reform, my old SRRV is cancelled. Reality: Existing visas remain valid; only the deposit conversion is excluded for these options.